A survey has revealed that 43% of dealers think that new Financial Conduct Authority (FCA) rules will have no impact on finance sold in showrooms, with a further 19% expecting the impact of the changes to be positive.
AM has teamed up with What Car? Connect, the data marketing and insight service, to produce a monthly look at used car sales and target price data. This month luxury cars are under the spotlight. It remains the most discounted segment.
The May General Election, resulting austerity measures and tax increases, plus the continuing incentivised push by manufacturers on new car sales will lead to 2015 being the most significant year for the used car market since the recession.
Personalisation isn’t new but using big data effectively is still proving difficult for many companies. Either there is a wealth of data that is never processed or collection methods are untrustworthy making it unreliable. When data is used properly it can lead to customer loyalty which to most brands is invaluable.
Despite strong vehicle registration numbers, dealers have been struggling to match their 2013 profit comparatives in the first two months of a quarter, with bonuses at the end of the quarter boosting the result.
It is important for dealerships to acknowledge that digital continues to evolve, and they must evolve their strategies accordingly. Even with today’s advances, we still have much unexplored potential in social, the Cloud and artificial intelligence (AI).